Level Four Advisory Services LLC Purchases 906 Shares of Fastenal (NASDAQ:FAST)

Level Four Advisory Services LLC boosted its stake in Fastenal (NASDAQ:FAST) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,290 shares of the company’s stock after purchasing an additional 906 shares during the period. Level Four Advisory Services LLC’s holdings in Fastenal were worth $5,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FAST. Fisher Asset Management LLC bought a new stake in shares of Fastenal during the third quarter valued at approximately $310,000. Loomis Sayles & Co. L P grew its position in shares of Fastenal by 63.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 106,667 shares of the company’s stock worth $7,618,000 after buying an additional 41,367 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Fastenal by 0.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 398,565 shares of the company’s stock worth $28,466,000 after acquiring an additional 1,533 shares in the last quarter. D.A. Davidson & CO. lifted its position in Fastenal by 5.1% during the 3rd quarter. D.A. Davidson & CO. now owns 23,263 shares of the company’s stock valued at $1,662,000 after acquiring an additional 1,123 shares during the period. Finally, Avestar Capital LLC bought a new stake in Fastenal during the third quarter worth about $204,000. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Up 0.8 %

Fastenal stock opened at $77.73 on Friday. Fastenal has a one year low of $61.36 and a one year high of $84.88. The stock has a market cap of $44.57 billion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The stock has a fifty day moving average of $75.35 and a 200 day moving average of $75.83.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. As a group, sell-side analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This represents a $1.72 annualized dividend and a yield of 2.21%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FAST shares. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research note on Wednesday, December 11th. William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Jefferies Financial Group raised their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.